In the bustling world of proprietary trading, new players are constantly seeking to distinguish themselves with innovative features, accessible evaluation models, and substantial capital access. One of these firms is FXIFY, a proprietary trading firm gaining traction for its flexible trading rules, high profit splits, and supportive educational ecosystem. Whether you’re a trader with an eye for strategy or someone just stepping into the industry, FXIFY is positioned as a serious contender for your attention. In this comprehensive review, ProprietaryNews explores what sets FXIFY apart, its unique features, evaluation structure, account offerings, and the potential advantages and drawbacks of trading with FXIFY.
The FXIFY Approach: What Makes It Unique?
FXIFY positions itself as a straightforward, trader-focused firm designed to empower individuals through transparent rules and extensive support. Founded by a team of industry veterans, FXIFY’s primary mission is to provide a secure, authentic trading environment that removes unnecessary complexity, making it easier for traders to focus on their craft. Unlike firms with convoluted rules, FXIFY’s emphasis on simplicity, transparency, and accessibility makes it an attractive option for traders across different experience levels.
Cost-Efficient Trading with Low Commissions
In proprietary trading, costs can significantly impact profits, which is why FXIFY’s low commission structure is a major draw. Here’s a quick look at their rates:
- Forex: $2 per lot round-turn (RT)
- Energy and Metals: $2 per lot RT
- Crypto: 0.05% of the contract value
- Indices: 0.01% of the contract value
This pricing structure is designed to maximize profitability for traders, helping them keep more of their hard-earned money.
Simple and Transparent Rules
FXIFY’s rulebook is designed with simplicity in mind, keeping processes clear-cut so that traders can focus on making sound trading decisions. With straightforward guidelines, traders avoid the stress and confusion that often accompany overly complex rules. FXIFY’s user-friendly structure helps traders stay on course without getting bogged down by hidden terms or surprise restrictions.
A Balanced Drawdown System
FXIFY’s combined drawdown model sets it apart from many firms that strictly use a trailing drawdown. Initially, traders are required to maintain a 5% trailing drawdown up until they hit a break-even point. Afterward, FXIFY switches to a fixed drawdown system, offering more risk flexibility and enabling traders to plan their strategies without the constant constraint of trailing limits.
Generous Profit Split
One of the biggest appeals of FXIFY is its attractive profit-sharing scheme, which allows traders to keep up to 90% of their profits. The split is calculated based on the trader’s account balance and equity at the close of the New York trading session on the day a payout is requested. This high profit split rewards traders’ hard work and enables them to maximize earnings.
Rapid Scaling Opportunities
For traders who consistently meet profit targets, FXIFY offers a fast-track scaling plan that allows accounts to expand up to $2,000,000. This unique scaling model enables traders to handle increasingly larger amounts of capital, effectively creating a dynamic path for growth and higher profit potential.
Flexible Weekly and Biweekly Payouts
FXIFY’s flexible payout structure is one of its standout features. Traders can choose between weekly and biweekly payouts, based on their needs. Calculated at the end of the New York trading session, this streamlined payout process ensures that traders can access their profits quickly, contributing to FXIFY’s reputation for trader-centric services.
Evaluation Process: Path to Funding with FXIFY
FXIFY’s evaluation process is structured to be rigorous yet accessible, making it suitable for both new and experienced traders. Here’s how it works:
1. Evaluation Stage
The Evaluation Stage consists of a one-step challenge designed to test risk management skills and consistency. With a 5% trailing drawdown limit, traders must demonstrate their ability to control risk effectively, setting a solid foundation for a successful proprietary trading career.
2. Signal Provider Stage
Upon completing the initial evaluation, traders advance to the Signal Provider Stage. Here, they trade on a demo account, and their trades are mirrored on live accounts. This stage offers a 75% profit split, and FXIFY retains the option to replicate some or all trades, enhancing trading effectiveness and profitability.
3. Hired Trader Stage
Traders who scale up to a $500,000 account achieve Hired Trader status, which comes with a 90% profit share and increased professional recognition. At this level, trades are executed directly on a live account, giving traders additional flexibility and a path toward higher earnings.
FXIFY’s Account Options and Evaluation Details
FXIFY offers a range of account types to accommodate various trading aspirations, from beginner to advanced. Let’s break down the account options:
- Diamond Account ($225,000):
- Profit Target: 10% ($22,500)
- Minimum Trading Days: 15
- Drawdown: 5% trailing
- Profit Share: 75%
- Refundable Evaluation Fee: $647
- Payout: Biweekly on demand
- Gold, Silver, and Bronze Accounts: Additional options are available for different budgets and experience levels, providing flexibility for traders with diverse trading objectives.
These accounts offer clear profit targets, reasonable drawdown rules, and a structured path to scaling, making FXIFY’s lineup versatile enough to suit traders at any level.
Evaluation Rules and General Guidelines at FXIFY
FXIFY has designed its evaluation framework to ensure disciplined trading practices. Here’s a breakdown of their rules:
- Evaluation Phase: 5% trailing drawdown, with a minimum of 15 trading days.
- Signal Provider Phase: 5% trailing and fixed drawdown, 10% cumulative profit target, minimum 25 trading days, and biweekly payouts.
- Hired Trader Phase: 5% trailing and fixed drawdown, 10% cumulative profit target, minimum 25 trading days, and weekly payouts.
Traders are expected to use stop-loss orders on all trades and follow specific guidelines for consistency. Some Expert Advisors (EAs) are restricted, and internal copy trading is not permitted. The three-strikes policy for rule violations encourages disciplined trading without room for missteps.
FXIFY Learning Center: A Resource Hub for Traders
One of FXIFY’s distinguishing features is its commitment to trader education. The FXIFY Learning Center provides an extensive library of materials covering everything from basic candlestick analysis to advanced trading strategies. Here’s what’s included:
- Education Package: For $17.97 per month, traders can access unlimited resets, the Learning Center, and daily market analysis.
- Free Trial: A 10-day free trial that includes limited educational content and daily analysis.
With over 140 videos in its resource library, FXIFY equips traders with the tools and knowledge they need to succeed.
ProprietaryNews Verdict on FXIFY
FXIFY has made a strong entrance into the proprietary trading space with its robust capital access, high profit splits, and detailed educational offerings. The funding options of up to $2,000,000, coupled with a 90% profit split, make FXIFY particularly attractive for traders seeking both growth and reward. The variety of trading instruments, including Forex, Cryptos, and Indices, further enhances its appeal by providing ample market opportunities.
The weekly and biweekly payout options, along with a free 10-day trial, are excellent perks that show FXIFY’s commitment to accommodating its traders’ needs. The combined drawdown system, accessible rules, and clear progression paths make FXIFY a versatile choice for traders looking to hone their skills in a supportive, structured environment.
That said, FXIFY’s 5% trailing drawdown rule can present a challenge for some traders, and the minimum trading day requirement may be a deterrent for those looking for a quicker evaluation. Additionally, the restrictions on certain EAs and copy trading could limit some traders’ preferred strategies. Nonetheless, the firm’s clear benefits and strong support infrastructure make it a standout choice for traders looking to advance in the proprietary trading world.
Final Thoughts: FXIFY stands as a promising option in the prop trading landscape. With ample capital, generous profit splits, and a solid educational foundation, FXIFY supports both emerging and experienced traders. The platform’s commitment to transparency, accessibility, and growth opportunities makes it a firm worth considering for anyone looking to take their trading to the next level.
To get started or learn more about FXIFY, visit their website and explore how this platform could be the launchpad for your trading career.